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25 December 2013

Hexcel supplies composite raw material with a value of $5 million per aircraft in the A350 XWB program.

“In 2014, we expect another record year with constant currency sales growth of approximately 10%, continued operating income margin expansion, double-digit growth in earnings per share and to generate free cash flow while continuing to fund our capital expenditures ramp-up,” said Hexcel CEO Nick Stanage. “Commercial Aerospace will again lead our sales growth. While the B787 was a key driver of this in 2013, Hexcel content per A350 XWB is now estimated at $5 million per shipset – a significant milestone that reflects both the breadth and depth of our products as well as nearly ten years of dedicated effort.”

Stringer run-out demonstrator shown in Le Bourget/2013

Hexcel anticipates 2014 revenues of between $1.80-1.88 billion in 2014, compared to 2013 revenue of between $1.65-1.68 billion. Commercial Aerospace, which comprises about 63% of the company’s last 12-months sales, will be driven by sales to Airbus, Boeing, and their subcontractors thanks to on-going increases in aircraft build rates and new composite-rich aircraft programs that are ramping up. Regional and business aircraft account for the remaining 15% of Commercial Aerospace sales and are also expected to increase in 2014.

Capital expenditures for 2014 are targeted to be $225 million to $250 million. This amount is higher than the company’s estimates from a year ago, reflecting Hexcel’s increased content on

the A350 XWB and to support higher aerospace growth in the mid-term. There is no change in Hexcel’s view on total capital expenditures needed to reach its $2.5 billion sales target in 2017.Based on the article “Hexcel benefits from composites-rich programmes” published in Eco Composites